EVENTS & FINANCIAL NEWS 18-08-2014

Market Comment

US indices were mixed on Friday. Shares in the Semiconductors & Semiconductor Equipment, Food, Beverage & Tobacco and Energy sectors traded higher while shares in the Food & Staples Retailing, Retailing and Automobiles & Components sectors were under pressure. The S&P 500 (1955.06) remains above its 20d moving average (1951.7 - negative slope), and below its 50d moving average (1957.1 - flat slope).

European markets are expected to start on a flat note.

Foreign Exchange

The US Dollar was under pressure against most of its major counterparts on Friday. On the economic data front, Empire Manufacturing was 14.69 (20 expected) in August. PPI Final Demand rose 0.1% MoM in July as expected. Industrial Production rose 0.4% (0.3% expected) MoM in July. The University of Michigan Consumer Confidence was 79.2 (82.5 expected) in August.

The Euro rose against most of its major counterparts. In Europe, UK GDP was revised at +3.2% for 2Q on a yearly basis vs +3.1% previously.

The Australian Dollar was mixed, rising against the USD and NZD, while falling against the EUR and JPY.

Commodities

After the close of Wall Street, WTI Crude Future (SEP 14) was up $1.5 to $97.03. The contract was below its 20D MA (@ $101) and below its 50D MA (@ $100.35). The 14d RSI below 30 (28.97) indicates WTI Crude Future (SEP 14) was oversold.

Gold was down $8.6 to $1304.9. The precious metal was above its 20D MA (@ $1303) and above its 50D MA (@ $1304).

Copper Future (DEC 14) on Comex was up 1.7c to 312.9c/lb. The contract was above its 20D MA (@ 307.41c) and above its 50D MA (@ 303.17c). In Europe, the London Metal Exchange reported its copper inventories decreased 50 tons to 141300 tons.

UK Market News

UK: Asking prices for homes fell 2.9% MoM (vs -0.8% in July) and those for homes in London dropped 5.9% (vs -0.4% in July), the biggest drop since December 2007, according to property website Rightmove.

Rio Tinto said it will review all options for its 53.8% stake in a copper mine in Papua New Guinea's Bougainville, citing "the new mining legislation passed earlier this month by the Autonomous Bougainville Government".

European Markets

ECB: Publication of the Euro area financial vehicle corporations statistics (10am CET)

Daimler's Mercedes-Benz brand has been found guilty in China of price manipulation over after-sales services, reported the Xinhua news agency citing government authorities.

Deutsche Telekom will consider buying smaller cable operators, according to the Co's German operations chief cited by the Focus magazine.

Today's Economic Events

EC 10:00: JUN Euro-Zone: Trade Balance (Bln): NA
EC 10:00: JUN Euro-Zone: Trade Balance (Bln) (MoM): NA
US 15:00: AUG NAHB Housing Market: 53

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EVENTS & FINANCIAL NEWS 06-08-2014

Market Comment

US indices dropped on Tuesday pressured by shares in the Energy, Semiconductors & Semiconductor Equipment and Utilities sectors. The S&P 500 (1920.21) remains below its 20d moving average (1965.9 - negative slope), and its 50d moving average (1954.9 - flat slope).

European markets are expected to start on a flat note.

Foreign Exchange

The US Dollar rose against most of its major counterparts on Tuesday, with the exception of the GBP. On the economic data front, US factory orders rose 1.1% (0.6% expected) MoM in June. The Markit US Services PMI matched expectations of 60.8 in July. The ISM Non-Manufacturing Composite was 58.7 (56.5 expected) in July.

The Euro was under pressure against most of its major counterparts. In Europe, euro-zone PMI composite index was 53.8 in July in final reading vs 54.4 in first estimation and 52.8 in July. Separately, euro zone retail sales were up by 0.4% in June after a 0.3% rise in May (revised from a flat reading). Economists anticipated them to increase 0.5%.

The Australian Dollar fell against all of its major counterparts.

Commodities

After the close of Wall Street, WTI Crude Future (SEP 14) was down $0.8 to $97.52. The contract was below its 20D MA (@ $101) and below its 50D MA (@ $100.35).

Gold was about flat to $1287.8. The precious metal was below its 20D MA (@ $1305) and below its 50D MA (@ $1295).

Copper Future (SEP 14) on Comex was down 4.3c to 320.1c/lb. The contract was above its 20D MA (@ 307.41c) and above its 50D MA (@ 303.17c). In Europe, the London Metal Exchange reported its copper inventories decreased 600 tons to 145575 tons.

Today's Economic Events

UK 09:30: JUN Industrial Production (MoM): 0.6%
UK 09:30: JUN Manufacturing Production (MoM): 0.6%
UK 15:00: JUL GDP Estimate (NIESR): NA
US 13:30: JUN Trade Balance (Bln): -44.8
US 15:30: W30 Crude Oil Inventories (WoW chg): -1500

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EVENTS & FINANCIAL NEWS 05-08-2014

Market Comment

US indices rose on Monday led by shares in the Energy, Diversified Financials and Retailing sectors. The S&P 500 (1938.99) remains below its 20d moving average (1968.1 - positive slope), and its 50d moving average (1954.5 - positive slope).

European markets are expected to start on a flat note.

Foreign Exchange

The US Dollar was mixed on Monday, rising against the EUR and CHF, while falling against the JPY and GBP. There was no major economic data.

The Euro was under pressure against most of its major counterparts. In Europe, according to Sentix, investor confidence index in euro zone plunged to 2.7 in August from 10.1 in July. Economists anticipated the index to be 9. Euro zone PPI index increased by 0.1% in June from a 0.1% decline the month before. Economists anticipated the index to be flat.

The Australian Dollar rose against all of its major counterparts.

Commodities

After the close of Wall Street, WTI Crude Future (SEP 14) was up $0.6 to $98.46. The contract was below its 20D MA (@ $101) and below its 50D MA (@ $100.35).

Gold was down $5 to $1288.4. The precious metal was below its 20D MA (@ $1307) and below its 50D MA (@ $1294).

Copper Future (SEP 14) on Comex was up 3.4c to 324.8c/lb. The contract was above its 20D MA (@ 307.41c) and above its 50D MA (@ 303.17c). In Europe, the London Metal Exchange reported its copper inventories decreased 25 tons to 146175 tons.

Today's Economic Events

EC 10:00: JUN Euro-Zone: Retail Trade (MoM): NA
US 15:00: JUN Factory Orders: 0.6%
US 15:00: JUL ISM - Non Manufacturing: 56.3

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Web: www.cfb.ae
Email:info@cfb.ae

For more information please visit our website century financial brokers.

Here are some useful links that you can follow:

Here is a CFB blog that gives useful daily Gold Analysis on dailybasis.

You can also follow CFB on facebook (useful advice on posts regularly)

Here is another blog that provides regular news and information and is very useful for Forex Signals